Phong Le – Chief Financial Officer of MicroStrategy – revealed that his firm will continue investing in bitcoin despite the recent plunge of the asset’s USD value.
In line with the prices of most crypto assets, the shares of the Nasdaq-listed company have also been on a downtrend since the beginning of 2022.
It is safe to say that the first 25 days of the year have not been kind to bitcoin. The cryptocurrency has lost more than 20% of its USD value during that period, which propelled skepticism in the space, and many started wondering whether and when its price would go up again.
The executives of the business intelligence software MicroStrategy, however, are not concerned. In a recent interview, the CFO of the company – Phong Le – asserted that the company will keep increasing its BTC holdings this year and that concept is not related to the asset’s short-term price movements:
“Our strategy with bitcoin has been to buy and hold, so to the extent we have excess cash flows, or we find other ways to raise money, we continue to put It into bitcoin.”